Poland's Crypto Bill Vetoed Again Amid Zondacrypto Scandal

Poland's crypto market remains in limbo after President Karol Nawrocki's veto of legislation aimed at strengthening oversight was not overridden by lawmakers. Despite 241 votes to override, the bill fell short of the required three-fifths majority, with only 198 voting against and three abstaining.

The proposed legislation would have assigned oversight of the crypto market to the Polish Financial Supervision Authority (KNF) and implemented the European Union's Markets in Crypto-Assets Regulation (MiCA). However, Nawrocki vetoed the bill citing excessive regulatory burdens on the industry.

Poland now lacks a national crypto regulator, despite MiCA requirements already applying across the EU. The KNF has acknowledged this gap, stating that the country still needs to designate an authority responsible for supervising the crypto asset market.